We are reaching a time when several underlying assumptions about good business practice are becoming undermined. The environment is not tolerant, governments will not back up forever, and customers ...
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We are reaching a time when several underlying assumptions about good business practice are becoming undermined. The environment is not tolerant, governments will not back up forever, and customers and citizens are merging. There will be no spare publicly financed money to bail out our environmental damage and social decay. Businesses will have to take their share of these responsibilities and create their sustainability accounts accordingly. Consumers will be more selective, regulation will tighten, and the more farsighted businesses will survive.Less

Commentary 6.9 : Perspective of a Global Retailer

Mike Barry

Published in print: 2013-08-22

We are reaching a time when several underlying assumptions about good business practice are becoming undermined. The environment is not tolerant, governments will not back up forever, and customers and citizens are merging. There will be no spare publicly financed money to bail out our environmental damage and social decay. Businesses will have to take their share of these responsibilities and create their sustainability accounts accordingly. Consumers will be more selective, regulation will tighten, and the more farsighted businesses will survive.

This chapter describes various indigenous financial and business practices. A unique social innovation developed in ancient India, a merchant guild or sreni or nigama was akin to a corporate ...
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This chapter describes various indigenous financial and business practices. A unique social innovation developed in ancient India, a merchant guild or sreni or nigama was akin to a corporate self-governing entity with its own regulations which were duly recognized and even registered by the local authorities. Some other practices prevalent in ancient India were hundis, which were part of a sophisticated financial system for safe transfer of funds to carry out business transactions; loan deed forms called rnpatra or rnlekhya; nidhis or chit funds which were designed to cultivate the habit of thrift and savings amongst its members, and the bahi-khata and parta systems of bookkeeping and management. The authors suggest that rather than dismissing these ancient practices as outmoded, Indian businesses may gain from modifying them to suit modern commerce.Less

Indigenous Business and Financial Practices

Kshama V. KaushikKaushik Dutta

Published in print: 2012-02-09

This chapter describes various indigenous financial and business practices. A unique social innovation developed in ancient India, a merchant guild or sreni or nigama was akin to a corporate self-governing entity with its own regulations which were duly recognized and even registered by the local authorities. Some other practices prevalent in ancient India were hundis, which were part of a sophisticated financial system for safe transfer of funds to carry out business transactions; loan deed forms called rnpatra or rnlekhya; nidhis or chit funds which were designed to cultivate the habit of thrift and savings amongst its members, and the bahi-khata and parta systems of bookkeeping and management. The authors suggest that rather than dismissing these ancient practices as outmoded, Indian businesses may gain from modifying them to suit modern commerce.

This chapter considers the merchant family in north India during pre-colonial and early periods as a business enterprise. It suggests that many of the patterns of behaviour which seem to characterise ...
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This chapter considers the merchant family in north India during pre-colonial and early periods as a business enterprise. It suggests that many of the patterns of behaviour which seem to characterise the family firm of nineteenth-century north India can be understood as tactics to avoid the risks of operating in a peculiarly hostile business climate. It explains that from early youth, children in merchant families were taught that good business involved the constant division of capital into small, manageable portfolios. It also discusses business management practices including double entry bookkeeping and the use of a central daily cash book.Less

The Merchant Family as a Business Enterprise

C. A. Bayly

Published in print: 2012-06-01

This chapter considers the merchant family in north India during pre-colonial and early periods as a business enterprise. It suggests that many of the patterns of behaviour which seem to characterise the family firm of nineteenth-century north India can be understood as tactics to avoid the risks of operating in a peculiarly hostile business climate. It explains that from early youth, children in merchant families were taught that good business involved the constant division of capital into small, manageable portfolios. It also discusses business management practices including double entry bookkeeping and the use of a central daily cash book.

In 1990s, the French saw America as both an incentive for change and an example to be shunned. If the New World's successes—for example, in economic growth—were admired, the ways Americans employed ...
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In 1990s, the French saw America as both an incentive for change and an example to be shunned. If the New World's successes—for example, in economic growth—were admired, the ways Americans employed to attain such prosperity were to be avoided. In short, America was simultaneously a model and an antimodel. What the French accomplished in the 1990s was to adapt features of the American way, without admitting it, in an effort to find their own way forward. This chapter addresses policies of the Fifth Republic that were explicitly, or in some instances only implicitly, inspired by the American model. It deals with economic and social policy, business practice, and cultural affairs. In economic and social policy, the focus is on issues like economic and technological competitiveness, unemployment, and the welfare state. In cultural affairs, the focus will be on language—that is, the spread of American English—and on the audiovisual sector.Less

The French Way: Economy, Society, and Culture in the 1990s

Richard F. Kuisel

Published in print: 2011-11-27

In 1990s, the French saw America as both an incentive for change and an example to be shunned. If the New World's successes—for example, in economic growth—were admired, the ways Americans employed to attain such prosperity were to be avoided. In short, America was simultaneously a model and an antimodel. What the French accomplished in the 1990s was to adapt features of the American way, without admitting it, in an effort to find their own way forward. This chapter addresses policies of the Fifth Republic that were explicitly, or in some instances only implicitly, inspired by the American model. It deals with economic and social policy, business practice, and cultural affairs. In economic and social policy, the focus is on issues like economic and technological competitiveness, unemployment, and the welfare state. In cultural affairs, the focus will be on language—that is, the spread of American English—and on the audiovisual sector.

Providing an overview of events, policies, and practices relating to commerce and business prevailing in the country from 1800s to the present, this chapter introduces the reader to factors that ...
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Providing an overview of events, policies, and practices relating to commerce and business prevailing in the country from 1800s to the present, this chapter introduces the reader to factors that shaped India's economic and business landscape, historical events that formulated its business practices, and political ideology that affected Indian businesses. It highlights the British influence on the Indian landscape and evaluates the impact of the American Civil War and World Wars I and II on Indian business. The chapter also discusses the diversification of Indian companies from the textile business into machine-based industries, such as sugar, jute, coal, and tea and coffee plantations. It also examines how Indian businessmen used the Indian National Council and other budding trade organizations to ensure business-friendly measures from the government.Less

Indian Business : An Introduction

Kshama V. KaushikKaushik Dutta

Published in print: 2012-02-09

Providing an overview of events, policies, and practices relating to commerce and business prevailing in the country from 1800s to the present, this chapter introduces the reader to factors that shaped India's economic and business landscape, historical events that formulated its business practices, and political ideology that affected Indian businesses. It highlights the British influence on the Indian landscape and evaluates the impact of the American Civil War and World Wars I and II on Indian business. The chapter also discusses the diversification of Indian companies from the textile business into machine-based industries, such as sugar, jute, coal, and tea and coffee plantations. It also examines how Indian businessmen used the Indian National Council and other budding trade organizations to ensure business-friendly measures from the government.

This book traces the evolution of business in India from the pre-British Raj days to look at the forces that have shaped Indian commerce and economy. It presents a well-rounded picture of the ...
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This book traces the evolution of business in India from the pre-British Raj days to look at the forces that have shaped Indian commerce and economy. It presents a well-rounded picture of the country's position in the global business scenario: from indigenous business and financial practices to the role of family business and state-owned public sector enterprises, the influence of global business on India, successful business practices of modern India, and the Indian story in modern times. Looking at the sustainability of the Indian dream, the narrative is supported by case studies of organizations like ITC Limited, ICI India Limited, HCL Limited, and Ranbaxy Laboratories Limited.Less

India Means Business : How the Elephant Earned its Stripes

Kshama KaushikKaushik Dutta

Published in print: 2012-02-09

This book traces the evolution of business in India from the pre-British Raj days to look at the forces that have shaped Indian commerce and economy. It presents a well-rounded picture of the country's position in the global business scenario: from indigenous business and financial practices to the role of family business and state-owned public sector enterprises, the influence of global business on India, successful business practices of modern India, and the Indian story in modern times. Looking at the sustainability of the Indian dream, the narrative is supported by case studies of organizations like ITC Limited, ICI India Limited, HCL Limited, and Ranbaxy Laboratories Limited.

This chapter describes several business practices that have proved successful in modern India. These include the cooperative movement, microcredit or micro-financing, and off-shoring. Indian ...
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This chapter describes several business practices that have proved successful in modern India. These include the cooperative movement, microcredit or micro-financing, and off-shoring. Indian companies have developed a reputation for work efficiency, information technology (IT) capability, and cost-effectiveness. The word BPO (business process outsourcing) has become synonymous with India and has even spawned idiomatic expressions like 'being Bangalored'. This chapter also discusses solutions to bridge the digital divide, such as ITC's e-choupal, an Internet-based intervention in rural India launched in 2000, the Drishtee rural network for delivering services and related information to the village community, and the C-DAC research and development institution set up by the Ministry of Communication and Information and Technology.Less

Successful Business Practices of Modern India

Kshama V. KaushikKaushik Dutta

Published in print: 2012-02-09

This chapter describes several business practices that have proved successful in modern India. These include the cooperative movement, microcredit or micro-financing, and off-shoring. Indian companies have developed a reputation for work efficiency, information technology (IT) capability, and cost-effectiveness. The word BPO (business process outsourcing) has become synonymous with India and has even spawned idiomatic expressions like 'being Bangalored'. This chapter also discusses solutions to bridge the digital divide, such as ITC's e-choupal, an Internet-based intervention in rural India launched in 2000, the Drishtee rural network for delivering services and related information to the village community, and the C-DAC research and development institution set up by the Ministry of Communication and Information and Technology.

This book provides an original, clear approach to the development of business in China from 1500 to the 1990s, and sheds new light on the strengths and weaknesses of Chinese business today. The book ...
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This book provides an original, clear approach to the development of business in China from 1500 to the 1990s, and sheds new light on the strengths and weaknesses of Chinese business today. The book assumes little background in China or Chinese business practice.Less

China and Capitalism : A History of Business Enterprise in Modern China

David Faure

Published in print: 2006-01-01

This book provides an original, clear approach to the development of business in China from 1500 to the 1990s, and sheds new light on the strengths and weaknesses of Chinese business today. The book assumes little background in China or Chinese business practice.

This chapter analyses the case for an international obligation for countries to enact and enforce a competition law to prevent anticompetitive conduct that creates market access barriers. It examines ...
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This chapter analyses the case for an international obligation for countries to enact and enforce a competition law to prevent anticompetitive conduct that creates market access barriers. It examines Japanese business practices that allegedly created market access barriers in several major industries, including soda ash, steel, stevedoring, semiconductors, and supercomputers. It is argued that anticompetitive conduct may restrict market access and that an international remedy should be available in limited circumstances. While there may be mutual gains from states agreeing to prohibit private anticompetitive conduct that restricts market access, the case for a common set of rules is weak.Less

Private Market Access Barriers

Chris Noonan

Published in print: 2008-01-17

This chapter analyses the case for an international obligation for countries to enact and enforce a competition law to prevent anticompetitive conduct that creates market access barriers. It examines Japanese business practices that allegedly created market access barriers in several major industries, including soda ash, steel, stevedoring, semiconductors, and supercomputers. It is argued that anticompetitive conduct may restrict market access and that an international remedy should be available in limited circumstances. While there may be mutual gains from states agreeing to prohibit private anticompetitive conduct that restricts market access, the case for a common set of rules is weak.

This chapter examines the evolution of regulatory regimes in the apparel industry as a comparison with efforts to regulate PMSCs. Lessons learned from the efforts of the Fair Labor Association and ...
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This chapter examines the evolution of regulatory regimes in the apparel industry as a comparison with efforts to regulate PMSCs. Lessons learned from the efforts of the Fair Labor Association and the Workers Rights Consortium might provide a road map for creating a hybrid public-private regulatory regime for PMSCs that contains all the necessary elements of high standards, implementation guidelines, independent monitoring, an enforcement mechanism, and public reporting. Incentives could be established by giving companies an industry seal of approval that would indicate their adherence to ethical business practices. This could be attractive to non-state customers, like NGOs and other companies that need security and are worried about the reputations of their providers. The existence of a hybrid regulatory regime would not, however, alleviate the state's responsibility to conduct ongoing assessments of the human rights impact of such an effort, including by examining the global structure and operations of the PMSC industry.Less

Human rights and self-regulation in the apparel industry

Rebecca DeWinter-Schmitt

Published in print: 2009-11-05

This chapter examines the evolution of regulatory regimes in the apparel industry as a comparison with efforts to regulate PMSCs. Lessons learned from the efforts of the Fair Labor Association and the Workers Rights Consortium might provide a road map for creating a hybrid public-private regulatory regime for PMSCs that contains all the necessary elements of high standards, implementation guidelines, independent monitoring, an enforcement mechanism, and public reporting. Incentives could be established by giving companies an industry seal of approval that would indicate their adherence to ethical business practices. This could be attractive to non-state customers, like NGOs and other companies that need security and are worried about the reputations of their providers. The existence of a hybrid regulatory regime would not, however, alleviate the state's responsibility to conduct ongoing assessments of the human rights impact of such an effort, including by examining the global structure and operations of the PMSC industry.